Good morning, ladies and gentlemen, and happy Boxing Day (to our British, Canadian, Aussie, and Kiwi readers) and St. Stephen’s Day (to our Irish friends).

How slow a news day is it? Let’s put it to you this way: It’s news that the Environment Agency of Abu Dhabi has added eight species of wasps to its database.

No, not those WASPs… The invertebrates, known as Digger Wasps, were caught earlier this year with malaise traps in Al Wathba Wetland Reserve and Al Bida, Barqa Saqoor, and Houbara Protected Areas, per the Abu Dhabi Media Office.

Sound smart- Digger wasps are solitary invertebrates whose females lay eggs on paralyzed insects to ensure food is available for their young once they hatch. After the larvae feed and emerge from the nest as adults, they seek out a female mate to prepare a nest for their eggs. Don’t tell us we’ve never taught you something new…

THE BIG STORY here at home this morning is the UAE maintaining pole position in the Arab Monetary Fund’s latest Arab Economic Competitiveness Index, underpinned by strong macroeconomic performance and investment appeal for business. We have the rundown in this morning’s news well, below.

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PUBLIC SERVICE ANNOUNCEMENTS-

#1- The taxman is coming: You’re going to want to check out the Federal Tax Authority’s (FTA) tax guide if you think there’s a chance you’ll do AED 1 mn or more in business in the UAE next year as a private individual, state news agency Wam writes. The guide is designed to help individual residents sort out their tax status before the new year starts. Both residents and non-residents with permanent businesses in the Emirates are subject to tax if their turnover exceeds AED 1 mn in 2024.

The exemptions: Income from wages, real estate investment, or personal investments.

#2- Leave early for the airport if you’re traveling — and make New Year’s Eve plans now: Dubai International Airport anticipates 4.4 mn arrivals between 15 and 31 December, while Etihad Airways projects 1.4 mn travelers in December, Wam reports. Hotel occupancy rates have also skyrocketed since mid-December, and full occupancy is expected on New Year’s Eve.

#3- Dubai’s Emirates Road is closed from Expo Road to Al Fayah Truck Road in both directions thanks to flooding. The RTA pointed to Sheikh Mohammed bin Zayed Road as an alternative route to Dubai or Expo Road if your destination is Abu Dhabi.

DATA POINT-

Institutional investors poured into domestic stocks this year: Institutional investors purchased some AED 7 bn (USD 1.9 bn) worth of domestic stocks in 2023, making them responsible for nearly 78% of total trading activity on Abu Dhabi and Dubai markets year-to-date, Wam reports. The bulk of the share purchases was concentrated on the ADX, with a net institutional investor purchase of around AED 6.1 bn. The DFM made up the other AED 808.1 mn.

Data point in the making on consumer spending:The Federal Competitiveness and Statistics Center (FCSC) will carry out a year-long survey of the spending habits of 19k families, according to a Community Development Ministry statement. The poll will compare families’ income with expenditure. The survey will produce “a series of data and indicators related to the lifestyle of families from both economic and social perspective.”

HAPPENING THIS WEEK-

#1- The Sharjah Consultative Council will kick off its regular session on Thursday to discuss the Emirate’s budget for the upcoming fiscal year, Sharjah24 reports.

#2- Catch another KPL Art Hub exhibition: Abu Dhabi’s Maktaba opened an art exhibition at Khalifa Park Library. The exhibition, which runs until January 14, 2024, includes the artwork of 60 emerging local and regional artists, Zawya reports.

THE BIG STORY ABROAD

On an exceptionally slow news day globally: Hamas, Palestinian Islamic Jihad, and Israel’s war cabinet are reportedly cool to Egypt’s expansive three-point peace plan — but none of them have (yet) publicly said “No,” suggesting there still plenty for negotiators to do behind the scenes.

Otherwise, it’s so slow that the FT is leading its homepage with fiction(a short story written by former CIA officer turned bestselling author David McCloskey), the WSJ is puzzled that Americans are buying more and more cars, but driving less, and leading the Mideast homepage of Bloomberg is … a thought piece on Goldman’s losing position on Chinese equities.

CIRCLE YOUR CALENDAR-

Federal government entities will be closed on New Year’s Day, the Federal Authority for Government Human Resources said last week.

The last weekend of the year is a big one for pop fans, with Sean Paul and T.I. playing Dubai’s Coca Cola Arena and X Factor India star Jubin Nautiyal performing at the DutyFree Tennis Stadium, both this Saturday, 30 December.

Madinat Jumeirah’s Festive Market is also on throughout the holiday season, with a host of parties across Dubai, Abu Dhabi, and the rest of the country on 31 December.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.